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Trapped1

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  1. I wish I could agree with the comments here. The way we have been treated by Nationwide is disgraceful. They accidentally sent us emails which were very insulting of my family. They have offered us £350 to return the emails but aren't in the slightest concerned about our problem as they are making £1000 per month interest out of us. We are disgusted with Nationwide.
  2. We are thinking of this - it is an option but we are getting on and are quite nervous of the attention it will bring. My wife hasn't slept properly for over 4 years when we became aware of the rolled up interest and the effect it was having on our estate. If we do go to the press, my daughter has made some enquiries and there are two papers interested, should we tell the Nationwide first or just go ahead?
  3. The Ombudsman have looked at the papers and agreed it has been mis-sold but couldn't help because the mortgage was taken out just before new governing regulation came about in 2004. The mis-selling part is resolved but it was impossible to put us back into the same position, ie a small interest only mortgage because of our ages. We are asking Nationwide to help us and they are not interested. Their 'confidential and sensitive emails' stated "we have done nothing wrong so why should our Members lose out?" Basically they are gaining £1000 per month in rolled up interest. The interest rate is 6.75%. All the time we are trapped with mortgage Nationwide gain £1000 extra a month.
  4. This is the situation. We were mis-sold an EQUITY RELEASE MORTGAGE by a broker. The Broker has paid us compensation but we have a short fall on paying off the mortgage. This is our only asset we have and like any other family we wanted to leave it to our children. My daughter is selling her home to raise as much money as possible, but we still have a shortfall. We are trapped in this high rate rolled up interest only mortgage which is increasing by a £1000 per month and by the time we die, there will be nothing left. Nationwide are saying it is nothing to 'to do with them and that we can stay in our home until we die'. The Nationwide have not offered any help whatsoever. We asked if the Nationwide could freeze the interest whilst our daughters home is being sold and they refused (the mortgage has increased by a further £12k since we started communicating. We have offered a reduced lump sum payment to clear the mortgage and the Nationwide refused. The Nationwide still would have had a very healthy profit for its members, easily above regular interest rates In error Nationwide sent us 'confidential emails', which were utterly shocking and mocked our children. The emails also included confidential and sensitive information/details about other clients who had been mis-sold the same product!! We wrote back to Nationwide informing them of the emails and pointed out 'why should Nationwide members benefit from an expensive product that had proven mis-sold' and that they are exploiting our unfortunate situation. The response from Nationwide was very negative and wanted to give us £350 for the distress caused by the emails and for us to return them to them in a pre-paid envelope, and again no offers of any help to resolve our situation. We are utterly disgusted at their cold attitude by their Members Relations Manager and lack of morals on what is reported as a 'bank that is trusted and respected by people'. Please can anyone advise is there anything we can do. We can’t seek help from the Omsbudsman as this the mis-selling took place prior to 2004.
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